XLM, the native token of Stellar, a cross-border money transfer protocol, has seen a huge rise in the last 24 hours.
Following the decision in the ongoing lawsuit between the US Securities and Exchange Commission (SEC) and Ripple XRP had a great rise. There is a known correlation between them for years and the co-founders are the same person. of XLM It also caused XRP to experience a great rise with it.
According to CoinGecko data, XLM, the most rising cryptocurrency of the day among the top 100 most valuable cryptocurrencies, has been in the last 24-hour period. $0.137 from the level more than 30% with an increase $0.179 reached.
As the days passed after the XRP decision, it was wondered why XLM experienced such a big rise.
What triggered the XLM rise?
Bitso, one of the leading crypto exchanges in Latin America. USD Coin (USDC) for Stellar Anchor NetworkIt is thought to be one of the main reasons for the rise. Bitso’s customers around the world as part of the integration Argentina, Colombia And to mexico It will be able to make various transactions, including USDC transfer.
Bitso Corporate Product Senior Vice President Santiago Alvarado In his statement, he emphasized the importance of this step:
In recent years, we have seen an increase in cross-border payments globally for both international trade and remittances. At this point, by leveraging blockchain technology and crypto assets, we can significantly improve payment times and overall costs.
Bitso aims to expand the payment corridor between Latin America and the rest of the world. in the second half of 2022 in total international transfers 32% He said there has been an increase.
In the last 24 hours top earning XLM, which stands out as crypto money, was written at the time of writing. from $0.170 is being traded.